Project Management Paper (no plagiarism)


Question Description

Teacher will use 'turn-it-in' for originality.

Write a 450- to 550-word paper in which you provide a full project summary.

Also - Describe how changes to the project scope, timeline, and budget will be requested, reviewed, approved, reported, and communicated


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Project Proposal 1 Project Proposal Team Alpha Team Alpha Project Proposal 2 Choice of Project The choice of Condominium Complex with 4 Units is based on the fact that there is a lot of market for this development within the area of New York City. The main objective is to establish a commercially viable venture the will exceed both the investor expectations and provide housing to the population residing within the New York City area and its environs. The development aims to provide state of the art, modern style quality housing to upper-middle class clientele. Project Team The first step to assemble a team entails creating an objective for the project team to follow. According to Cobb (2012), "Laying out how the project's mission, objectives, deliverables, and task objectives relate to one another--and what is needed to produce them--all combine to provide a good goal structure to a project (Cobb, 2012, p.124). The next step will entail developing a relationship with the project team to outline the roles that will be played during the project. The last step is through having meetings to discuss the phases of the project. Stakeholders The main stakeholders for this project are the developers, the project teams, and individuals who wish to invest in real estate and are wanting to settle in the region. According to the current market, the investors will be able to benefit from income generated from tenancy. Based on the current market trends, New York is expected to grow and families are continually settling in this region due to its proximity to the various essential services. Based on the current demographic there are potential tenants and the development is expected to attract tenants. The property will feature the modern amenities that are sought after in today’s market. Team Alpha Project Proposal 3 Project Brief The proposal is to develop a four-plex condominium with one unit per floor. The units will be 1,500 square feet and feature three bedrooms and two baths. The finishes will be top of the line and will include quartz countertops, Sub-zero appliances, engineered wood floors, and will have the latest technology available. There will be a patio area for the lower unit with balconies for the upper units. The property will sit on a half-acre lot located in the borough of Brooklyn, an up and coming area. The property will be leased to individuals who are responsible for their own utilities. In addition, the location is in an ideal neighborhood where there is easy access to markets, schools, and other recreational facilities. Development Plan and Resources The development will require that a licensed architect is appointed as the lead consultant to spearhead this development. After the lead consultant is in place, other specialists will need to be brought on board. These specialists include civil and structural engineers, a mechanical engineer, an electrical engineer and any other specialist that may be required to support the team (Bulan, Mayer & Somerville, 2009). There will be upfront costs in fees for the consultant team. These fees are estimated at $75,000 based on the current developments around this location. Additionally, construction is expected to cost approximately $500 per square foot. This is not inclusive of any site improvements or access to the property. Project Sponsorship and Leadership One of the major obstacles to any development is obtaining financing that will cover the costs for project design, detail, and development. There is a need to identify a reliable source of financing and a construction company with project management skills to steer the project. The Team Alpha Project Proposal 4 developer will provide significant funding in terms of a construction loan to ensure that the project is undertaken within allotted budget and time frame. The developer’s project manager will deal with coordination of all the aspects of development from the architect to working with the construction company that is chosen for the project. Coordination of all these elements ensure that the property is developed per the requirements and meets all the high standards set forth in the project proposal. Team Alpha Project Proposal 5 References Bulan, L., Mayer, C., & Somerville, C. T. (2009). Irreversible investment, real options, and competition: Evidence from real estate development. Journal of Urban Economics, 65(3), 237-251. Cobb, A.T. (2012). Leading project teams: The basics of project management and team leadership (2nd ed.). New York, NY: Sage Publications. ...
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Tutor Answer

School: UIUC




Project Management
Institution Affiliation



The project that I decided on for this discussion is the Condominium Complex having
4 units, the choice for this was based on the availability of such development market in New
York City. New York City is perfect for this project because it continues to grow and a lot of
people are drawn to the city by the services and more people settling there. The condominium
will be good for investor and for use as residential housing. The Condominium will have the
most sort after amenities.
About the Project
For the project team to work effectively two things must happen, there must be an
objective and the mission that will guide them throughout the project, the second thing is there
has to be set goals for each of the team members and consistent meetings for follow ups during
a project. The project will have the following stakeholders, investors, project team and a...

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